Wealth management bank ETFs recorded net inflows of $850 million over the last three weeks, reflecting broad market agreement on the defensive characteristics of the sector. Despite strong profits from its global markets and investment banking divisions, Mizuho's services for individual clients have lagged. The firm aims to streamline its retail operations by categorising customers based on asset size. Bower will lead efforts to enhance and grow the bank's existing wealth management offerings, driving strategic growth Wealth management bank equities are currently trading at a 2% discount to their six-month average earnings multiple, representing potential value for medium-term investors. Option market data shows increased bullish positioning in calls.
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